EUR/USD, GBP/USD slip while USD/JPY regains lost ground post Israel attack on Iran
EUR/USD, GBP/USD slip while USD/JPY regains lost ground as safe haven flows lead to further US dollar strength
EUR/USD slips again
Following its past couple of days' bounce, EUR/USD is heading back down again amid escalation in the Middle East. The cross eyes Tuesday's low at $1.0601 and the 78.6% Fibonacci retracement of the October-to-December advance at $1.0596. Below this level the late-October lows at $1.0522 to $1.0517 as well as the $1.0449 October low remain in sight.
Resistance sits at Thursday's $1.069 high, made slightly below the key $1.0695 to $1.0725 resistance zone.
GBP/USD drops further
GBP/USD's bounce towards the $1.25 mid-December low was short-lived with the cross falling to new five-months lows as Israel fires missiles at Iran and the US dollar gains on flight to safety flows.
Support sits at the $1.2374 mid-November low ahead of the 61.8% Fibonacci retracement of the October-to-March rise at $1.2365.
USD/JPY falls but then recovers
USD/JPY short-term slid to ¥153.60 before resuming its ascent towards the ¥155.00 mark around which the Bank of Japan (BoJ) may intervene.
Upside pressure will remain in play while last Friday's low at ¥152.60 holds. Were this level to give way, though, the the ¥151.97-91 area might be back in play.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.